Kept

Florida Gas Transmission kept an Overage Alert Day in place through Saturday, then allowed it to expire Sunday.

Traders kept the streak of gains alive on Wednesday as the August natural gas futures contract added 8.8 cents to close at $3.793 on expectations that the industry on Thursday morning will see its smallest storage injection since mid-April.

Pacific Gas & Electric kept a systemwide Stage 2 high-inventory OFO on its California Gas Transmission system in effect through at least Friday but loosened the tolerance for positive daily imbalances from 5% Thursday to 11% Friday.

Light weather-based demand kept cash prices falling at nearly all points Friday as forecasts of slightly higher heat levels in the South and Midcontinent were offset by a continuation of moderate-to-cool springtime conditions in most other regions. The weekend decline of industrial load was another bearish factor, while as expected, the previous day’s 4.4-cent gain by July futures had essentially no impact on the physical market.

Pacific Gas & Electric kept a systemwide high-inventory OFO in place through at least Thursday but slightly loosened the 5% tolerance for positive daily imbalances that had been in effect for the first two days of the OFO to 9% for Thursday.

Southern California Gas kept a high-linepack OFO that had been initiated Saturday in effect through Monday, then allowed it to expire Tuesday. However, on Tuesday afternoon the LDC said it was declaring a new high-linepack OFO for Wednesday, setting the imbalance tolerance for positive daily imbalances at 10%.

Italian producer Eni, which up to now has kept its U.S. exploration efforts confined to the Gulf of Mexico (GOM) and Alaska, has formed a strategic alliance with Quicksilver Resources Inc. to acquire, develop and exploit some of Quicksilver’s Barnett Shale leasehold.

Italian producer Eni, which up to now has kept its U.S. exploration efforts confined to the Gulf of Mexico (GOM) and Alaska, has formed a strategic alliance with Quicksilver Resources Inc. to acquire, develop and exploit some of Quicksilver’s Barnett Shale leasehold.

Although The Weather Channel’s forecast for Tuesday in Florida called for a bit of cooling, Florida Gas Transmission not only kept an Overage Alert for market-area customers going into its 11th day Tuesday but also tightened the tolerance for negative daily imbalances to 10% from the 25% that had been in effect since the first Overage Alert Day on May 2.